Markets dropped sharply Monday afternoon as a new stimulus bill is unlikely to be passed before the next election. Futures were up over the weekend as House Speaker Nancy Pelosi placed a 48-hour deadline on the negotiations. However, as of Monday afternoon, Pelosi said they had not bridged the gap between the White House and House Democrats.
- The Dow Jones closed down 1.4% after initially rising to start the day, causing a 570-point spread between its daily high and low.
- The Nasdaq Composite finished down 1.7% on Monday, continuing a week-long trend of losing days.
- The S&P 500 finished down 1.6%.
- Stocks are rising Tuesday morning as negotiations are continuing with an imminent deadline.